Cyprus

There’s evidence of human presence on Cyprus dating back as far as the 10th millennia BC. It strategic location—south of Turkey and Greece, west of Lebanon, and north of Egypt—means Cyprus has been occupied by every major empire in the region for thousands of years.

Presently, Cyprus is a part of the British Commonwealth having gained independence in 1960. Technically, the Republic of Cyprus has de jure sovereignty over the entire Mediterranean island, but in practice things are a little different. Cyprus is divided into two main parts: the Republic-controlled south and west and the self-declared Turkish Republic of Northern Cyprus in the north. The international community considers the northern part of the island as being occupied by Turkish forces which is viewed as illegal under international law.

Despite questionable borders, Cyprus has a high income economy and is rated highly on the Human Development Index. Cyprus is also a member of the European Union.

In an effort to attract high net worth individuals to settle and do business in Cyprus, the Council of Ministers revised the “Scheme for Naturalization of non-Cypriot investors by exception” in September of 2016.

Unlike some other countries, applicants are required to have a permanent, privately-owned residence in the Republic of Cyprus with a minimum purchase price of €500,000 plus VAT.

There are a few different options for citizenship by investment:

1. A minimum €200,000 investment in real estate, land development, and infrastructure development
2. A minimum €200,000 investment in the purchase, establishment, or participation in a Cypriot company or business
3. A minimum €200,000 investment in Alternative Investment Funds or financial assets of Cypriot companies or Cypriot organizations licensed by CySec.

As Cyprus is part of the European Union, holders of a Cypriot passport can live, work, study, and travel anywhere within the EU. Passport holders can also enjoy visa-free access to more than 150 countries. Combined with Cyprus’ low tax rate and the opportunity for free-trade within the EU, Cyprus is a much sought after destination for citizenship by investment.

For full program details, visit the Cypriot citizenship by investment government information site or contact us for a free consultation.

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